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Ch. 309 2000 LAWS OF MARYLAND
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(C) ALL OF THE FOLLOWING RECEIPTS OF THE COMMISSION SHALL BE
PLACED IN THE FUND:
(1) THE TAKEOUT ALLOCATION UNDER § 11-515 §§ 11-515 AND 11-515.3 OF
THIS TITLE FROM MILE THOROUGHBRED LICENSEES;
(2) THE TAKEOUT ALLOCATION UNDER § 11-616 OF THIS TITLE FROM
HARNESS LICENSEES;
(3) EFFECTIVE JULY 1, 2001 AND SUBJECT TO THE PROVISIONS OF
SUBSECTION (D) OF THIS SECTION, MONEY FROM UNCASHED PARI-MUTUEL TICKETS
PAID BY LICENSEES TO THE COMMISSION UNDER § 11-803 OF THIS TITLE; AND
(4) ANY OTHER REVENUE, GIFT, DONATION, OR OTHER SOURCE UNDER
A WRITTEN AGREEMENT BETWEEN THE ELIGIBLE LICENSEES AND THE
CORPORATION.
(D) (1) TO THE EXTENT DEEMED APPROPRIATE BY THE CORPORATION, THE
RECEIPTS OF THE FUND SHALL BE PLEDGED TO AND CHARGED WITH THE PAYMENT
OF:
(I) DEBT SERVICE ON CORPORATION BONDS FOR RACING
FACILITIES:
(II) ALL REASONABLE CHARGES AND EXPENSES RELATED TO
CORPORATION BORROWING AND THE MANAGEMENT OF CORPORATION
OBLIGATIONS RELATED TO RACING FACILITIES; AND
(III) ALL REASONABLE CHARGES AND EXPENSES RELATED TO THE
AUTHORITY'S REVIEW OF RACING FACILITIES PURSUANT TO THE PROVISIONS OF
THIS SUBTITLE.
(2) BEGINNING JULY 1, 2002 AND ANNUALLY THEREAFTER, TO THE
EXTENT DEEMED APPROPRIATE BY THE CORPORATION, THE RECEIPTS OF THE FUND
RELATED TO UNCASHED PARI-MUTUEL TICKETS UNDER SUBSECTION (C)(3) OF THIS
SECTION THAT ARE NOT NEEDED TO PAY THE COSTS UNDER PARAGRAPH (1) OF THIS
SUBSECTION SHALL BE PAID TO THE COMMISSION TO BE CREDITED TO THE RACING
SPECIAL FUND ESTABLISHED UNDER § 11-401 OF THIS TITLE.
(E) (1) THE FUND SHALL BE INVESTED AND REINVESTED BY THE
TREASURER IN THE SAME MANNER AS STATE FUNDS.
(2) ANY INVESTMENT EARNINGS SHALL BE TRANSFERRED TO THE
CREDIT OF THE FUND.
(F) (1) IN THE EVENT BONDS FOR THE REDEVELOPMENT OF RACING
FACILITIES ARE NOT ISSUED BY THE CORPORATION BY JULY 1, 2002, OR A LATER
DATE MUTUALLY AGREED TO BY THE COMMISSION CORPORATION, AND THE
APPLICABLE LICENSEE:
(I) THE APPLICABLE LICENSEE SHALL NOTIFY THE CORPORATION
OF ITS INTENT TO USE THE RECEIPTS OF THE FUND ATTRIBUTABLE TO THE
TAKEOUT ALLOCATION UNDER §§ 11-515. 11-515.3, AND 11-616 OF THIS TITLE; AND
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